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I paid 20,000 in cash for my aircraft just a few weeks ago. Cash for me meant almost 2,000 dollars off the asking price, which was fair to begin with. Its a LOT OF BILLS!

I have looked at more money before, but I dont think I've ever held that much in my hand at once. Can't imagine 40K though! A check once for 78,000 but it aint the same thing

I used to say that I know people who know people with money.

Now it's simply "I know people with money".

Well done, great plane at a fair price especially considering your investment. He bought a good one.

Jim

The "Mate" that bought my Pitts awhile back flew here on the airlines with $43000 attached around his waist in freezer bags !
When he realized that he was'nt getting it any cheaper and the conversation turned to how we would have to wait for verification and clearing of what ever payment he was going to give me , He proceeded to stand and undo his belt and pants in my office (I must admit this was desperatly unsettling) He then started pulling on some tape that was holding the 3 bags around his waist and threw the money on my desk ! All in 100,s
When I asked him was'nt he afraid of security or customs , his only concern was that they would'nt let him carry his "leatherman" on board .
I'm convinced that even though he's from the land down under that he's Defintely "A REDNECK"

I'll bet the bank teller asked you some questions when you went to deposit that amount in cash. With the new post-9/11 banking laws, they have to report large cash deposits.

I had the "mate" go with me to make the deposit , Not to explain where I got the money , But to be there when the teller did a recount for us . It's amazing how confident you can be counting someone elses money , but
The teller I'm sure did report whatever had to be reported .

Just a sidenote, but I was told that any deposit over $10,000 into any U.S. account has to be reported to the IRS for a vairety of possible scenarios! (That right, Jeff?)

For that reason, many folks will make several smaller deposits less than $10K each rather than the one big one, for whatever good that does!

I wish I had known that before!!

(Yeah ....right, Carl!)

The rule requiring the reporting of over $10K has been around since about 1980, possibly a little earlier. As an airline station manager in a small station, my father made a daily trip to the bank to make a deposit. Being in a military town, and the military was paid in cash for many years, and few had credit cards, the airline took in lots of cash. Suddenly one day Dad made a deposit and the teller pulled out a form and started asking questions. Turns out a new rule had gone into effect that required the form to be filled out on $10K+ deposits.

Sometime before Dad retired in '84 the company finally quit being so cheap and contracted with an armored car company to handle the deposits. This was also about the time that credit cards became more common, and somewhere in there the Army started paying with checks, and soldiers got checking accounts and started writing checks for airline tickets. Nowdays, if you go to purchase an airline ticket with cash, they look at you funny. In Atlanta, the ticket counter has a secure room that handles all of the cash. If a ticket agent takes payment in cash, he puts the money and paperwork in a pneumatic tube and sends it to the room, they send back whatever change he needs and thus no cash stays on the ticket counter and no one has to count cash drawers.

You need to keep one of those bill checking markers on hand if you plan on taking cash, there is too much counterfit stuff floating around.

Charles

Currency transaction (and certain other monetary items) reporting has been around for a couple of decades now, originally used to combat the drug trade and other money laundering schemes. It has expanded somewhat since 911.

It is relatively transparent to those that hold accounts, but yes, there are requirements to file forms (although NOT to the IRS, rather FINCEN) that may or may not be followed up on.

I can tell you what the levels are, but then I would have to kill all of you, then myself, so lets just leave it up for speculation at this time.

Funny part is, I bet the terrorist and drug dealers fully know the amount.

The good news is, for the first 10 years or so, very few prosecutions occurred because of the data, but in the last 10 or so years, it has become a very effective tool in "finding the money trail" of the bad guys.

Yeah - large amounts of cash are now the "smoking gun". I've been questioned about amounts of about $1000. Last year, I got lucky at a casino in Louisiana (it'll never happen again, either... ), and ended up with about $1600 plus a few tens in cash - $100's, $50's, $20's, $10's, $5's and a gob 'o' ones.

Yeah - it does look good.

Well, I went to make a deposit in savings, and the the teller asked me to stay there, and got the branch manager to do the transaction. I filled out no forms, but they were very friendly when they asked - and yeah - I told 'em - I got lucky on the blackjack table and the "Texas Tea" and "Munsters" video machines. Lori will attest to that!

Hey - I've donated to the indigent children's fund too many times. 'Bout time I got some payback, anyway.

Actually, I shoulda told 'em I made too much in the closet that morning and wanted to clean out the mess.

But then again, that might not've been the smart thing to say or do..

Oh well.

Waitin' on the refund...

Ed,

For $1600 they must know something about you that concerned them greatly. OR....maybe the teller was just new and needed help. OR....the guy standing behind you had on a ski mask and overcoat. <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />